Analytics & BI market revenue to reach $304mn in 2018: Gartner

The analytics and business intelligence (BI) software market revenue in India is expected to reach $304mn in 2018, an 18.1% year-on-year increase, according to research firm Gartner, Inc.Priyanka Sangani | ET Bureau | June 05, 2018, 18:09 IST

The analytics and business intelligence (BI) software market revenue in India is expected to reach $304mn in 20Indian organizations are looking to integrate and manage unstructured data, and some are also experimenting with data science on real-time streaming data. 18, an 18.1% year-on-year increase, according to research firm Gartner, Inc. Indian organizations are increasingly moving from traditional enterprise reporting to augmented analytics tools that accelerate data preparation and data cleansing, said Gartner, Inc.

“Indian organizations are shifting from traditional, tactical and tool-centric data and analytics projects to strategic, modern and architecture-centric data and analytics programs," said Ehtisham Zaidi, principal research analyst at Gartner. "The 'fast followers' are even looking to make heavy investments in advanced analytics solutions driven by artificial intelligence and machine learning, to reduce the time to market and accuracy of analytics offerings."

Indian organizations are looking to integrate and manage unstructured data, and some are also experimenting with data science on real-time streaming data. As a result, data management software market revenue in India is on pace to total US$950 million in 2018, a 13.2 percent increase year over year.

"We are witnessing a rapid shift to the cloud and hybrid data management through focused data management offerings, including integration platform as a service (iPaaS) tools for cloud integration and data preparation tools for self-service integration," said Zaidi. "We are also seeing the emergence of data lakes and data hubs, as a new way to ingest and manage multistructured data. However, unavailability of talent will continue to be a major inhibitor toward their adoption."

Globally, purchasing decisions continue to move from IT leaders to line-of-business executives and business users who want more flexible, agile and personalized options. "This is in stark contrast to the large, enterprise-scale deals that fueled double-digit growth at a time when IT had larger budgets and wielded much more influence in buying decisions," said Zaidi.

"In India, CIOs, chief data officers (CDOs), and data and analytics leaders must evolve their traditional approaches," said Zaidi. "They need to focus on business outcomes, explore algorithmic business, and most importantly build trust with the business and external partners. In particular, they need to start experimenting and adopting smart data discovery, augmented analytics, in-memory computing and data virtualization to stay ahead of the curve."